Market Overview:
Kidney cancer, also known as renal cell carcinoma (RCC), forms in tissues of the kidneys. Kidney cancer treatments include immunotherapy, targeted therapy, chemotherapy, surgery, radiation therapy, and cryoablation or radiofrequency ablation. Targeted therapies block the growth and spread of cancer by targeting specific molecules involved in tumor growth and progression. These targeted drugs include inhibitors of vascular endothelial growth factor (VEGF) pathways. Kidney cancer drugs are undergoing rapid adoption due to various advantages such as increased survival rates with minimum side effects and targeted approach.
Market key trends:
One of the key trends in the kidney cancer drugs market is the introduction of newer targeted therapies. For instance, in June 2022, the U.S. FDA approved Jemperli (dostarlimab-gxly) for the treatment of adult patients with mismatch repair deficient (dMMR) recurrent or advanced solid tumors. Dostarlimab is a programmed death receptor-1 (PD-1) blocking antibody. Another key trend is the rising prevalence of kidney cancer cases globally. According to the WHO report, kidney cancer accounted for over 430,000 new cases and over 180,000 deaths globally in 2020. Developing countries are witnessing increasing disease prevalence due to adoption of unhealthy lifestyles and environmental factors. This rising incidence rate is propelling the growth of the global kidney cancer drugs market.
The global Kidney Cancer Drugs Market Size is estimated to be valued at US$ 6.2 Bn in 2023 and is expected to exhibit a CAGR of 6.4% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderately low as high capital investment is required and established key players have stronghold in the market. However, patent expiration of blockbuster drugs provides opportunity for new market entrants.
Bargaining power of buyers: The bargaining power of buyers is moderately high as kidney cancer drugs market has the presence of many key players providing a range of treatment options to customers.
Bargaining power of suppliers: The bargaining power of suppliers is moderately low as key players have in-house production facilities and source APIs from multiple suppliers globally.
Threat of new substitutes: The threat of new substitutes is moderately low as kidney cancer drugs are niche and no major substitute treatment exists currently.
Competitive rivalry: Competitive rivalry is high among key players to gain higher market share through continuous new product launches, strategic collaborations and regional expansion.
Key Takeaways
The global Kidney Cancer Drugs market size is expected to reach US$ 6.2 Bn in 2023 and exhibit CAGR of 6.4% over the forecast period due to increasing incidence of renal cell carcinoma.
Regional analysis – North America dominated the kidney cancer drugs market in 2022 owing to increasing healthcare expenditure. Asia Pacific is expected to witness fastest growth over the forecast period due to rising medical tourism, large patient pool and growing healthcare industry.
Key players – Key players operating in the kidney cancer drugs market are Pfizer Inc., Novartis International AG, and Genentech, Inc. These companies are focusing on expanding their product portfolio through acquisitions and new product launches to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
